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Milpitas council accepts FY 2023–24 financial audit; general fund balance rises $11.7 million
Summary
The City Council unanimously accepted the city’s Annual Comprehensive Financial Report for the fiscal year ending June 30, 2024. Auditors issued an unmodified (clean) opinion. City staff reported a $11.7 million increase in the General Fund balance and an overall $21.9 million increase in net position.
The Milpitas City Council voted unanimously to accept the city’s Annual Comprehensive Financial Report for the fiscal year ended June 30, 2024, after a staff presentation and questions from council members.
Luz Caprati, finance director, told the council the city “received an unmodified, this what's called the clean opinion as expressed in the independent auditors report.” The auditors found no material weaknesses or material deficiencies. The audit firm noted a small “other matter” related to the…
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